Paytm Entertainment has received Rs 48.79 crore in a fresh round of capital infusion from its holding entity One97 Communications.
This is the second fund infusion by its parent in less than six months in the company that manages and operates an online ticketing platform for booking movie and event tickets.
According to regulatory filings, Paytm Entertainment has allotted 54,21,533 equity shares for a consideration of Rs 90 per share to One97 Communications.
According to Entrackr’s calculation, Paytm Entertainment has been valued at Rs 630 crore in the latest round, growing by 8.6% from its last round in September in which it had received Rs 31.68 crore.
Till now, One97 Communications has invested $19 million in Paytm Entertainment.
Over the past three years, Paytm’s movie and event ticketing business have emerged as a challenger to BookMyShow. It had tied up with PVR Cinemas, INOX, Cinepolis, and multiple regional chains.
Although Paytm Entertainment had claimed to sell 100 million tickets in 2019, it’s still half of BookMyShow’s scale which had sold 200 million tickets in the same period.
While we are yet to analyze the financial performance of Paytm Entertainment in FY19, BookMyShow’s operating revenue increased by 52% to Rs 594.2 crore from Rs 391 crore in FY18.
Significantly, it also managed to bring down losses by 29%, down to Rs 115.2 crore in FY19 from Rs 162.2 crore in the preceding fiscal.